Information about the
Newcastle Education Foundation
Funding decisions will be made by the Board of the Foundation after approval by the Newcastle Board of Education and the Newcastle Public Schools Administration. Programs supported by the Foundation will be evaluated and prioritized by its Allocations Committee based on compliance with its mission statement, clear demonstration of need and budgetary constraints. All funding requests will be considered only after determining that they represent incremental programs that are outside of the Board of Education approved budget.
The Newcastle Education Foundation is led by a Board of Directors, formed of community members. It is separate and independent of the Board of Education of Newcastle Public Schools but is required by State of Oklahoma Statute to work in cooperation with the Board of Education. The Newcastle Education Foundation Board members serve without pay for three year terms and can be re-elected once for an additional term of three years before leaving the Board. Entry to the Board is through nomination by the Board's Nominating Committee and the garnering of a majority of voting Board Members. The Board also has several non-voting members including the Superintendent of Schools, School Teachers (one from each of the three schools) and students. One voting member is drawn each year from the Newcastle Board of Education.
It is the intent of the Board of Directors of the Newcastle Education Foundation to distribute a majority of the funds raised each year to the Newcastle Public Schools. A minimum of 15% of the funds raised by the Foundation will be retained to establish and augment an endowment fund. The primary vehicle for fund distribution will be through the Grants for Teachers program. The Grants for Teachers program provides up to $2,000 per grant. Grants are allocated based on need and merit, which are established through information provided by completion of a standardized application form. All funds distributed by the Foundation must be supported by an invoice or other form of documentation to ensure that the funds have been utilized according to the parameters of the Grant. An audit of all Grants will be performed by the Allocations Committee of the Foundation to provide feedback on the process and document the successful outcome.